The Apple Card now has a savings account

You can now use your Apple Card to deposit your daily cash deposit into a separate savings account. The corporation and its banking partner, Goldman Sachs, created the feature and claim the new account will have “high yield,” but they have not disclosed the exact interest rates.

Your account will be credited with the Daily Cash on a daily basis. Your Apple Cash balance or an external bank account can also be used to make a deposit.

Cupertino will also provide free one-way transfers to Apple Cash, the company’s preferred method of outlay.

Apple’s cashback scheme is called Daily Cash, and it offers one percent back on all transactions, two percent back on purchases made with Apple Pay, and three percent back on purchases made at the Apple Store and select partners like Uber, Walgreens, T-Mobile, and ExxonMobil.